Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

NSW parliament passes 10-year defect insurance laws for new apartment buyers

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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Popular Caulfied South meat-lovers restaurant Big Boy BBQ has leased space for its second eaterie at around $1,400 per square metre on Hardware Lane in the Melbourne CBD, which runs between Bourke and Little Bourke Street.
The lease over the 100 square metre premises at 29 Hardware Lane was negotiated by Savills Australia’s state retail director, Michael Di Carlo, in conjunction with Grange Property Consultants.
The premises were previously tenanted by Affogato Espresso Bar.
There are already a number of restaurants on the popular pedestrianised retail strip including Amigos Mexican Restaurant, Grill Steak Seafood Restaurant, The Mill Restaurant, Pugg Mahones and Campari House.
Hardware Lane is a tightly held retail strip with commercial property listings showing no shops currently available for lease.
“Big Boy BBQ was keen to test the market with its offering in the CBD driven by the CBD’s significant recent population growth and the existing office staff catchment,” says Di Carlo
“Consumer spending on restaurants and cafes has also held up very well at a time when retailers generally are feeling the pain of a consumer savings trend and on-line competition.”
The lessor is a Melbourne-based investor.
 
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Big Boy BBQ leases restaurant space in Hardware Lane in Melbourne CBD

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Building and construction industry super fund Cbus is considering allowing its members to invest directly in its portfolio of commercial, retail and residential property.
Currently super members can invest in property as a component of a diversified investment portfolio that may also include shares, fixed income and other investment strategies.
However, Cbus chief executive David Atkin says the board is currently reviewing different strategies that would allow members to invest directly in the property assets managed by property investment and development subsidiary Cbus Property reported the Australian Financial Review.
The review comes as super funds look to increase their exposure to the property market as a portfolio diversification strategy and as a way to hold onto members who can now invest in property directly through their self-managed super funds.
Last month, another <a target="_blank" href="https://www.propertyobserver.com.au/commercial/australiansuper-to-double-commercial-property-investments-as-part-of-diversification-play/2012102457425">industry super fund, AustralianSuper</a>,  said it planned to more than double its investments in commercial property over the next five years.
Cbus Property has built up a $2 billion property portfolio by investing in new building projects including office and retail developments and residential apartment projects.
It is also an investor and manager of commercial property.
In conjunction with Dexus, it developed and owns two-thirds of the 27-storey 1 Blight Street office tower in the Sydney CBD and also owns and manages the 35-storey Ernst &amp; Young tower on Exhibition Street in the Melbourne CBD.
Current projects under construction include the futuristic new 63,000 square metre NAB building at 700 Bourke Street in Melbourne’s Docklands, with about $1.5 billion worth projects in its development pipeline including 850 apartments.
Property investments delivered Cbus a 9.5% return last year compared with a 12.4% return for Australian fixed, but better than 7% loss from Australian shares.
Cbus is also review expanding its blue-collar membership base to include related white-collar professions, such as architects.
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Super fund Cbus mulling direct property investment for members

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Corporate Australia is looking to reduce costs associated with real estate, according to Ernst &amp; Young research.
Companies are cutting accommodation costs, which make up 10-15% of overall costs, according to Ernst &amp; Young Capital Confidence Barometer.
Partner of the company Richard Bowman says any costs associated with owning and occupying real estate are high on the cost-cutting agenda for Australian companies.
“We are seeing tenants reducing the space they occupy and owners selling down any surplus sites they have,” Bowman says.
“Clients want to know what potential levers they have at their disposal to minimise occupancy costs, from fighting market rent reviews, reviewing service contracts through to challenging outgoings such as rates and taxes.”
Bowman says real estate companies should be changing tactics to work with corporate clients.
“The real estate sector should be taking advantage of flexible deal structures to fulfill their growth agenda by using development agreements, joint venturing and extended term contracts to help get deals done,” Bowman says.
According to the report there will an increase in sub-lease office leasing over the next 12 to 18 months will put downward pressure on net effective rents across most parts of the market.
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Australian companies cutting real estate expenses: Ernst & Young

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A former butcher shop now office boutique office space has been listed for sale in Sydney’s inner west.
The 1890s <a href="/news">Petersham</a> butcher shop now has five commercial offices and a two-bedroom home upstairs.
The corner building is currently home to The Back Room designer outlet.
The property comes with four separate entrances for the various functions.
It is being sold with tenants or vacant possession.
The upstairs residence has two bedrooms, one with a walk-in robe and ensuite. It has a large living area with timber floors and a separate dining area.
The office space opens to a rear veranda and private garden courtyard and the residence opens to an elevated barbecue terrace.
Agent Jennifer Aaron is selling the property with expectations of more than $1.4 million.
Half the property is currently occupied by The Back Room owner, who lives upstairs.
If the property were bought by an investor for $1.5 million the potential yield of the property would be 8.5%-9%.
The vendor has been renovating the property for some time.
Aaron says she has received significant interest from advertising agencies and marketing companies as well as from potential investors.
Aaron says there is scope to reconfigure the property into one residence or to divide into two single-level dwellings, subject to council approval.
The property, at <a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Petersham/?adid=2010069379" target="_blank">74 Palace Street</a>, comes on 227 square metres. It goes to auction on November 24.
The vendor bought the property in 2000 for $550,000. Prior to this it sold for $360,000 in 1995 and $210,000 in 1988.
The property was an entrant in the 2010 Marrackville Medal award, which recognises conservation work in historically significant properties.
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Former butcher shop-turned-office space listed in Sydney's inner west

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In a week in which the ‘people’s choice’ was re-elected as the President of the United States, I was lucky to be associated with an Australian move to democratise mortgages.
Many readers would have seen the stories in the media about the fact that my business – Yellow Brick Road – and Macquarie Bank have come together to market a more affordable mortgage product to everyday Australians.
These mortgages will be offered at a 1.15 percentage point discount on our base variable rate loan in the first year, reverting to up to a 0.86 percentage point discount for the life of the loan.
In the first year these mortgages will have interest rates of around 5.5%.
The big four banks’ standard variable rate mortgages have an average interest rate of around 6.62%, so you’re probably wondering how an organisation like Yellow Brick Road can market its own mortgage for 5.5%.
The answer lies in the difference between a risk premium and a customer discount.
That is, in Australia we can accept that someone who is wealthy will get a discount from the bank on their mortgage rate. But what Australians will not accept is that they pay more than their neighbour because they are perceived as being riskier.
So the banks do something very clever: they place the higher risk premium on all of their standard variable rate loans.
Then the banks offer "professional packages" to customers they perceive will use more services with the bank and add to profitability, so they drop the mortgage rate from 6.62% to 5.9% for their high net-worth customers who borrow more.
Proof that this works can be seen in the fact that all the big banks do it.
We’ve turned that idea around, and democratised the mortgage discount. Rather than customers waiting to be selected for a lower rate, we tell everyone they can have the lower rate, which after the first year, will be set at a similar level to the banks ‘pro pack’ mortgages.
 
<hr class="system-pagebreak">
 
This move is part of a broader philosophy that I’ve been pursuing since starting Yellow Brick Road. And that philosophy is this: only when the consumer is treated as an important and informed part of the banking system, will we have a truly ‘stable’ system.
An informed consumer knows how to take a home loan that is best for her circumstances and knows how to pay it off faster than the bank wants her to.
And the benefits of competition only exist when there is real choice upon which consumers feel they can act.
I worked to offer choice when I ran Wizard in the 1990s and 2000s, and in those days the borrowers responded.
But while lenders like Yellow Brick Road can disrupt the mortgage market with a discounted interest rate, the borrowers must have the confidence to act.
We have a way to go to get Australians back to full confidence, but I hope this new home loan shows all consumers what is possible.
 *all percentage interest rates are annual percentage values
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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YBR and Macquarie Bank democratising mortgages

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The high cost of renting has shifted dramatically from south-east Queensland to regional mining towns, led by Roma, Gladstone and Mackay, according to the Residential Tenancies Authority (RTA) annual report for 2011-12.
Median weekly rents for three-bedroom houses in Roma rose an astonishing $150 over the space of 12 months to June to a median of $500 per week – a rise of 40% – while two-bedroom unit rents  increased by 35% to $350 per week.
Roma lies 515 kilometres west of Brisbane in the Darling Downs, the epicentre of the coal seam gas (CSG) boom, home to Origin Energy's Spring Gully Coal Seam Gas Development and the outer end point of the 434-kilometres Roma-to-Brisbane gas pipeline.
In the more widely known mining hotspot of Gladstone, median weekly rents for three-bedroom houses rose $120 (33%) over the past 12 months to a median of $500 and by $100 per week for two-bedroom units to a median of $400.
The report also found that weekly rents have risen by $70 per week in Mackay for houses ($460) and by $60 per week for Mackay units ($360) – annual increases of 18% and 20% respectively.
In comparison median weekly rents have hardly shifted in Brisbane and in other more heavily populated south-east Queensland locations including Ipswich, the Sunshine Coast and the Gold Coast.
Click to enlarge
<a href="/images/stories/2012/11/qldrent.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/11/qldrentthumb.jpg"></a>
The figures are based on data gathered by the RTA for the year to June 30 as part of its rental bond custodial function combined with data from other official and industry sources.
The report notes that traditionally, the most expensive areas in terms of rents are in south east Queensland, "particularly areas of Brisbane, the Gold Coast and Sunshine Coast".
“However, areas which experienced the most significant rent increases for houses and flats were Gladstone, Roma and Mackay.
“Mount Isa also saw a significant increase in rents for houses. Most other areas experienced either smaller rent increases or no change.
“Significant increases in the regional areas are generally related to resource-driven activities,” says the RTA in its annual report.
The RTA is a regulatory body which monitors and reports on Queensland’s residential rental sector.
For tips on investing in Gladstone, download Property Observer's free eBook: <a href="http://propertyobserver.com.au/ebooks/free-ebook-gladstone-investment-keys-to-one-of-the-nations-most-talked-about-hotspots" target="_blank">Gladstone – Investment keys to one of the nation’s most talked-about hotspots</a>
Photograph of Roma courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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Roma leads Queensland mining town rental boom with 40% annual growth

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The year 2012 is moving into the rear view mirror.
With only five auction weekends to go this year, the necessity for good negotiation becomes paramount. With another 69% clearance rate from 733 auctions that were listed by the REIV and over 3,000 auctions listed for the next three weekends, vendors and purchasers will be frantic to do deals.
If clearance rates continue around 60% then in the next three weeks 40% of 3,000 properties will still be sitting on the market in the run-up to Christmas. Some 1,200 vendors will want to have their properties sold before relaxing through the Christmas hiatus. And it is up to the selling agents to assist the vendors to make this happen.
But too many agents are still massively overquoting vendors then low-quoting to prospective purchasers. It is not too difficult for professional buying agents to work out property values and have a very good idea where the auction will finish up. It really doesn’t matter to us where the agent quotes because we can use comparable sales data to get a very good idea of where the bidding will end up. We have heard from some selling agents that reserves should be published prior to auction. This is all well and good if they are accurate to what the final outcome of the auction will be. We have heard from plenty of selling agents who say that low quoting is necessary to bring plenty of people to the auction. But this usually annoys the inexperienced or those who are not getting professional counsel from a buying agent.
Neither of these situations is of any real issue if the vendor is selling at a realistic price. The single biggest problem in the Melbourne Real estate market is when agents let vendors dictate reserve. I know the vendor has the right to sell at whatever price they want and I know they can withdraw the property from market if they wish, but when prospective purchasers expend money on legal, building and pest inspections when the vendor wants 10% over market value and the selling agent does not advertise this, it is grossly unfair.
 
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When excellent comparable sales data indicates the price point of a property as around $700,000 give or take $25,000, even if the agent quotes in the $600,000 range it doesn’t usually matter too much. Come auction if it is a good property it will have multiple interest and the bidding should get into the high $600,000s or low $700,000s and well within the target range of value for the vendor.
The problem occurs when the vendor wants $800,000 for the property.
This means the vendor either has extremely bad counsel from the selling agent, the selling agent has overquoted the property’s value in order to get the listing or the vendor was not really serious about selling their property. Unfortunately, it is usually one of the first two reasons.
Consumer Affairs should step in to protect both the vendor and buyer. If the agents’ appraisal is more than 10% from the vendor’s reserve either publish the reserve at the beginning of the campaign or if the property does not sell at auction reimburse prospective purchasers for their time and expenditure on purchasing the property. Most professional real estate agents who are competent will know what a property is genuinely worth. There will always be a little low-quoting, but value is value and if the vendor wants well above the market value the agent should have a responsibility to let every prospective purchaser know before they expend time and money on due diligence.
Over the next five weeks we will see more and more of this issue and it will be exaggerated as we get closer to the Christmas slowdown. Agents who are desperate for listings may have been “buying the listing” (telling vendors they will get more for their home than it is truly worth), and when the agent comes up short at the auction, they should be held accountable. After the auction, there is no reason why the compulsory appraisal that the agent did for the vendor should not be published for all passed-in properties. If the reserve set by the vendor is more than 10% above this number then this should be seen as unreasonable for prospective purchasers. The prospective purchasers should be able to make a claim against the agent or vendor marketing the property.
Ian James is director of <a target="_blank" title="JPP" href="https://www.jpp.com.au">JPP Buyer Advocates</a> – the largest dedicated buyer advocacy in Melbourne. With extensive experience in all matters regarding real estate, JPP successfully purchases and negotiate more than $100 million worth of property each year for clients.
<div> </div>
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Unrealistic vendor hopes the single biggest problem in Melbourne real estate market: Ian James

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Retail properties priced under $1 million are likely to hold strong appeal for small investors, according to a Property Observer reader survey.
While purchasing commercial real estate remains on the radar for just a small number of readers, of those who do intend to look beyond residential investments, two in five (40%) would consider a commercial property priced between $500,000 and $1 million, while more than a third (36%) are interested in commercial property priced under $500,000.
Less than a quarter would consider investing in commercial property above $1 million.
The most sought-after assets are retail properties, chosen by more than a third of respondents (35%), followed by industrial assets (28%) and office assets (16.3%).
A third of readers considering buying commercial property said they intended to buy using their self-managed super funds, while nearly half (47%) said they would use their commercial property acquisition as their business premises. The remainder said they would acquire a commercial property as an investment.
The results of the survey also indicate that retail property is further along the property cycle than offices and closer to recovering.
Half of those surveyed (51%) said retail property in their state had bottomed out, while less than a third  (32%) said the sector was still in a downswing.
A smaller proportion said their state office market had bottomed out (46%), while more than a third (34%) said it was still in a downswing.
In the last few months, combined warehouse/office premises priced under $1 million have attracted strong interest from both owner-occupiers and small investors.
<ul>
<li>A large 344-square-metre office/warehouse facility at Molendinar, the Gold Coast’s premier industrial precinct, sold to truck spare parts company $430,000. The property at 2/18 Expansion Street, <a href="/news">Molendinar</a>, was sold by Steve Macgregor of Ray White Commercial Gold Coast post auction.</li>
<li>In Melbourne, an office-warehouse unit at 2 Railway Avenue in <a href="/news">Oakleigh </a>sold to a private investor for $670.000 on a yield of around 7.5%. The 389-square-metre building sold leased at a net rental of $50,000 per annum plus GST was negotiated by Crabtrees Real Estate.</li>
<li>In September a warehouse/office complex at <a href="/news">Hendra </a>in Brisbane’s north was sold by Ray White Industrial Milton to construction company Solutions Three for $675,000.</li>
</ul>
Retail premises up for sale priced under $500,00 include a <a href="https://www.propertyobserver.com.au/victoria/docklands-hair-salon-offers-small-investors-and-smsf-potential-8-return/2012102457390" target="_blank">Docklands hair salon</a> asking $300,000 to $310,000 at a yield of around 8% and the <a href="https://www.propertyobserver.com.au/tasmania/historic-high-street-campbell-town-pharmacy-listed/2012101657144" target="_blank">old pharmacy building in Tasmania’s Campbell Town</a> listed for sale with an asking price of $495,000.
One in 20 of the more 800 readers surveyed by Property Observer said they planned to purchase a commercial property in the next 12 months.
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Retail and industrial properties under $1 million the sweet spot for small investors: Reader survey

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You’re excited, having just purchased a commercial property investment. But what happens from here on effectively determines just how profitable your acquisition will be.
Therefore, choose wisely when selecting your property managers to ensure they share the same aspirations as you do.
1. Maintaining full occupancy
This is what every commercial property investor wants, and it should also be the same for your property manager.
Clearly, the starting point is taking the time and effort to select solid tenants upfront — rather than simply "filling the space". Plus it's important for you to retain a good ongoing relationship with those tenants, which leads on to the next benefit.
2. Having an investor mindset
As investors, you need to think of your tenants as your partners. After all, they are the ones paying your mortgage.
Therefore, top property managers tend to act as though each property was their own. And this attitude flows through to your tradespeople as well — because when promptly paid, they will always respond quickly to any emergencies that may arise.
3. Timeliness
Naturally, this would include ensuring your tenants pay on time. And if not, having a firm but fair system in place to get things back on track.
Once your rentals are in, those cleared funds need to be immediately transferred into your bank account – and you're then alerted by email.
4. Preserving value
You need to have an ongoing preventative maintenance program in place. The reasons why are quite simple:
<ul>
<li>These costs are then known and budgetable; </li>
<li>Your tenants should cover these costs under their leases; </li>
<li>If not, the items are tax-deductible, instead of a capital cost.</li>
</ul>
By being planned in advance, it means you are able to select the best tradespeople at the best prices. Plus, your property is being inspected on a regular basis.
 
<hr class="system-pagebreak">
 
5. Proactive advice
Top property managers will come to you well in advance of any market rental reviews (or lease expires) with appropriate recommendations. Likewise just before your insurance falls due.
They should also come to you immediately after the four-yearly council revaluations to advise you on whether or not to challenge the new assessments.
6. Statutory compliance
Unless you are involved with this every day, keeping on top of statutory changes can be a nightmare.
You need to be across them all. But probably the most vital is ensuring your property meets the various essential services requirements.
Every top property manager will already have a program for regular checking and rectification.
7. Marketability
With each acquisition, you should always be looking for ways to add value, through refurbishing or subdividing into smaller components.
This, together with your preventative maintenance program, should ensure your property is in ready-to-sell condition within 12 months of you purchasing it.
That way, you can move quickly should the need arise.
Bottom line: If you have read this far, you're already serious about property investing. And so I'd like to give you a helpful takeaway.
Whether you are about to make a new appointment, or are simply wanting to re-evaluate your existing commercial property manager, <a href="https://property-edge.com.au/after-youve-bought/property-management" target="_blank">here are the 17 probing questions you need to ask.</a>
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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The seven benefits of having the right property manager for your commercial property investment

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Victorian Planning Minister Matthew Guy has approved a $500 million expansion of Chadstone Shopping Centre, the biggest shopping centre in Australia and the southern hemisphere.
This follows the City of Stonnington granting approval to the redevelopment plans in August this year, after the support of an independent planning panel in July.
The expansion plans include the building of twin 14-storey buildings comprising offices and a hotel at the southern end of the mall, two floors of international retailers, refurbishments of the cinemas and food precincts, and the addition of 1,400 new car-parking spaces.
There are also Victorian goverment discussions underway for a new $2 billion train line connecting the Glen Waverley and Dandenong railway lines that would stop at Chadstone Shopping Centre with traffic congestion one of the major issues identified by the independent planning panel.
The mall was last redeveloped in 2007 to give it the title of biggest in the southern hemisphere at a cost of $100 million.
Chadstone Mall dates back to the 1960s and is a super-regional shopping centre owned by Colonial First State Global Asset Management, with 50% owned by its listed property trust Colonial First State Retail Property Trust (CFS) since 1994.
CFS’s half-share is valued at $1.6 billion and covering 156,000 square metres of gross lettable retail space along with 20,000 square metres office space.
It provides 156,000 square metres of gross lettable retail space along with 20,000 square metres of office space.
Major tenants are Myer (12.4% of space leased), David Jones (9.5%), Hoyts and Target.
In total the 518 tenants generate sales in excess of $1.3 billion
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